BIMCO, INTERCARGO, International Chamber of Shipping and INTERTANKO have made a joint proposal to the IMO to encourage member states to adopt aspirational targets on CO2 emissions.
In a submission to the IMO, the industry bodies propose that shipping should keep its annual CO2 emissions below 2008 levels, and reduce CO2 emissions per tonne of cargo transported one kilometre (on average) by at least 50% by 2050 compared with 2008.
They have also suggested that a strategy to be put in place by the IMO should consider other ways of reducing CO2 emissions from shipping by an agreed percentage by 2050 from 2008 levels.
In order to meet such aspirational objectives, substantial research into fossil-free and alternative fuels is necessary, and this needs to be identified and a strategy put in place by the IMO.
The industry bodies would like to see this final strategy adopted by 2023. Ten years after this, a comprehensive review should be carried out to establish progress of meeting these agreed aspirational objectives.
The aspirational objectives will also establish a baseline year for peak CO2 emissions from international shipping and set long-term aspirations for cutting them.
According to the industry bodies, the term ‘aspirational objectives’ has been chosen to reflect the possibility that they might not be fully achievable within the agreed timeframe.
The importance for IMO to remain in control of regulating shipping’s CO2 emissions is also emphasised by the industry bodies. This means developing a global strategy to reduce the risk of national or regional measures that will increase complexity and create market distortion. The IMO needs to send a clear signal to the global shipping community that shipping’s regulators have agreed objectives for reducing its CO2 emissions.
The proposal will be presented to the Marine Environment Protection Committee’s 71st session held 3-7 July.
View the full proposal to MEPC 71 here.
Fathom-News
editor@fathom-mi.com
